Narendra Modi-Barack Obama meet good for business

This fortnight promises to be headline worthy given the new PM’s birthday falls on the calendar, we have the Chinese Premier Xi Jinping coming over and Modi will be travelling to the United States. He has been appraised on many counts, given that he just wrapped up a hundred days but the centerpiece of his impression from a global standpoint will lie with how he presents himself in America. Reports suggest 20,000 tickets have been sold for his speech at Madison Square.

For the capitalist image, pro-corporate one that Modi has harboured all these years as chief minister of Gujarat will finally present his view to the big daddy of capitalism. How bold will Modi’s speech be? Will he be able to convince America of continuous investment relationship despite his ‘Make In India’ slogan? How much will he be willing to put on the table and will he be a good negotiator for India? Interestingly while this is a landmark visit for Modi who has been denied a US visa for several years citing the 2002 riots, the tone of this trip promises to be highly business-like. Ever since the election win, both sides have kept at bay the visa controversy. This time it appears Modi too is keen to go out there and make a big impression on both Americans and Indian Americans with his speeches.
Both Barack Obama and Modi are aware how important India is for the American market. And this visit comes at a good time for business. US is on an uptick and India needs big investments in infrastructure. The WTO talks

need resolution making it another point on the checklist. Foreign direct investment in retail – with WalMart’s history here so far – appears to be somewhat of a sticky issue. It may just a pass as the two leaders  no doubt will spend more time on ties in sectors like nuclear, defence.

“The two leaders will discuss a range of issues of mutual interest in order to expand and deepen the US-India strategic partnership. They will discuss ways to accelerate economic growth, bolster security cooperation, and collaborate in activities that bring long-term benefits to both countries and the world,” the White House had said in a statement earlier while formally announcing the visit. With the America trip coming on the heels of the visit of the Chinese Premier, Obama would clearly be interested in Modi’s impression of our tough neighbour.

So at the end of this visit the question would be, will the new PM want a US validation to up his popularity among investors and global names? In his first hundred days, there have been small but not significant moves to shake up the inertia in policy. Additionally, business wise there have been no big bang efforts to bring ‘ease of doing business.’ Like India Inc has been saying the expectations around Modi have been very high and there is tremendous need for speed. This US visit will be watched for the same. For this trip to be successful, business must get done.

Shaili Chopra is an award-winning business journalist and founder of www.golfingindian.com